Kentucky Statutes 304.23-020 – Eligibility of insurer
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(1) An insurer, in order to qualify for writing mortgage guaranty insurance, must have the same capital and surplus as that required by KRS § 304.3-120.
(2) An insurer transacting any class of insurance other than mortgage guaranty insurance is not eligible for the issuance of a certificate of authority to transact mortgage guaranty insurance in this state, nor the renewal thereof.
Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 23, sec. 2, effective June 18, 1970.
(2) An insurer transacting any class of insurance other than mortgage guaranty insurance is not eligible for the issuance of a certificate of authority to transact mortgage guaranty insurance in this state, nor the renewal thereof.
Terms Used In Kentucky Statutes 304.23-020
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 23, sec. 2, effective June 18, 1970.